Will private and government employees get their salaries on 1st December?
Posted on: 18/Nov/2016 12:16:43 PM
In an unexpected move, India’s Prime Minister Narendra Modi announced in a special address on 8th evening that Rs 500 and Rs 1,000 notes will be demonetized. New Rs 500 and Rs 2000 are being dispensed through banks.
People are exchanging and depositing their old 500 and 1000 notes in the banks. In between the government has asked banks to put indelible ink marks on the fingers of those exchanging the now-banned Rs.500 and Rs. 1000 currency notes. Now people are receiving an indelible ink mark on their finger, to prevent repeated conversions. People are flooding the banks and some are wondering when the normalcy will return.
In a couple of days, the salary works will begin in the private and government offices. At this juncture, it has been mentioned that the bank employees work load is becoming heavier and at the same time, the stock of cash is very low. The overnight announcement of demonetization had a debilitating effect on employees already as they were forced to work overtime. At a time when bank employees are burdened they have to keep extra money for salary purposes.
In view of all this, there is a fear that whether government and private employees salary will be credited on 1st December. There is a question that how the transaction will take place and will the cash shortage comes to normalcy. If at all the salary is delayed, the employees will be put into hardship because many of the employees are paying the monthly EMIs on 2nd of every month. If there is a default in the EMI it will attract penalty.
In view of such problems, employees are very worried.Because of the new central government policy, majority of daily wages workers are very badly affected.
